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could push back the start of basel iii by about six months. the law was mepts ant to be pha in by the start of 2013. >> archstone was not part of the zell asset, was it? >> i feel like zell was related to it. >> but he sold right at the top. so that was part of the problem. it wasn't just a total lack of due diligence. i mean, everything was valued hire when archstone was first sold, right? >> yes. but as i'm looking at this, no, sam zell i do not believe was involved. >> that was the equity office and -- >> and then blab stone. but blackstone even though they bought at the top figured out a way to then sell pieces of it very, very quickly. and they did very well. >> entrade is no longer accepting u.s. customers citing legal and regulatory pressures. that announcement coming hours after the u.s. commodities regulators sued the exchange's owner alleging that it allowed unauthorized trading by u.s. customers, u.s. customers must close their accounts and withdrawal all funds by the end of the year. and a group of former mf global customers is asking a court for permission to su
tax law changes could mean. what are you hopeful about? what are you worried about? >> for the next five years, ten years, a very simple model. you have to raise revenues, lower expenses, and grow the economy. but the economy is not isolated. and the global economy is important. how does the u.s. participate? so we have to keep an eye on europe, we can't ignore it. you have to keep an eye on china. china's going to step on the accelerator in march if not earlier. and within the framework of the next ten years, can we regain our economic prowess? and that's priority number one. if you have these guys in new york, mayor bloomberg, mayor booker, the mayor, the governors, cuomo, christie, malloy, if they went on holiday while we had sandy, what would you do? we have an economic crisis. they're going to take a short break in december. yeah, we have to have a patch, but we have to have a fix. and a structural fix is so fundamental so that if you're running a business and you have clarity and visibility for the next five years, you can live with whatever you have. corporate taxes are comin
the fiscal cliff and some of the fixes and solutions and proposals out there to change tax law. programs suggest maybe you need to cut the deduction for charitable giving. what would that mean to an organization like yours? >> we hope that doesn't occur obviously, but having said that, the american public's generosity never ceases to amaze me and they seem to step up because they want to help people that are less fortunate than they are and time and time again i have seen that over the last four and a half years that i've been with the american red cross, and it's made me very optimistic in the spirit of american giving, and i believe that people will continue to donate regardless of the tax law changes. >> would it impact your organization or not, you think it would not impact it? >> well, it's hard to tell. you know, i'd like to believe that people donate because they think it's the right thing to do, not just because they get a tax break. time will tell. >> gail, are you dependent on the really big bucks guys like if it goes to, say it went to 50 on a cap, you'd still get, the average
at a law firm. we have been looking through so many things when it comes to the fiscal cliff. and what we haven't focused on is what it would mean for the life insurance industry. this is something we've spoken with you about in the past. when you were here, i don't know if it was the last time you were here, you were here when they were looking at downgrading the united states and its credit ratings. the warning's out there that if there's not a deal reached, we could see another downgrade. what would that mean for the industry? >> i think that would not be good for the industry. i was on about a year ago when we talked about the u.s. been put on a watch, the s&p did, in fact, downgrade. and what happens in the life insurance industry, in order to stand behind the promises to policy holders, it's the largest holder of corporate and u.s. high-grade bonds. so it has, i think, over $2 trillion. and if you think about it, a downgrade would not be positive there. i could see the rating agency say these guys can't get their fiscal house in order, we warned them, put them on some kind of watch,
Search Results 0 to 3 of about 4